Moving forward, experts claim that we will all see more and more innovative uses of blockchain technology as its potential is more fully realized.

Transparency and security are both absolute essentials in a digital age, and China appears to be recognizing that need and putting this powerful tech to use through policy, enforcing theft through taxation.

But it’s unclear as of yet, just when China will begin using Blockchain to tax. Blockchain technology has been proposed for use in elections already due to its potential for both transparency and security. It’s these features that make it appealing for taxation as well.

Furthermore, we should also see implementation at the city level in China, as several local and provincial governments have recently promulgated pro-blockchain policies. In fact, a smart cities initiative has already enticed a Chinese automaker to integrate the tech into its business model.

Additionally, blockchain-based industrial parks have gone up in Chengdu, Hangzhou, and other major cities, and agencies at different levels of government have created blockchain R&D teams. –Futurism